This article is from the source 'independent' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.independent.co.uk/news/world/americas/us-politics/trump-tax-cuts-us-budget-passed-republicans-house-latest-a8021731.html
The article has changed 5 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| House Republicans narrowly pass $4 trillion budget, opening door for Trump's massive tax cuts | House Republicans narrowly pass $4 trillion budget, opening door for Trump's massive tax cuts |
| (35 minutes later) | |
| Republicans in the House of Representatives have narrowly passed a $4 trillion budget, paving the way for President Donald Trump’s tax overhaul plan. | |
| The budget blueprint will allow Republicans, without any support from Democrats, to pass a measure that could cut taxes by as much as $1.5 trillion over the next 10 years. | The budget blueprint will allow Republicans, without any support from Democrats, to pass a measure that could cut taxes by as much as $1.5 trillion over the next 10 years. |
| But the narrow 216-212 vote hints at the uphill battle a tax reform bill will face to make it to the President's desk to be signed into law. Twenty Republicans voted against the budget resolution, which received no 'yea' votes from Democrats. | |
| After nine months in office, Mr Trump has still not secured a major legislative victory. | |
| The budget measure would allow for a tax bill that adds as much as $1.5 trillion to the federal deficit over 10 years. Meanwhile, the federal government continues to accumulate more debt, which has now surpassed $20 trillion. The deficit for the 2017 fiscal year, which ended Sept. 30, totalled $666 billion, an increase of $80 billion from the previous year. | |
| Some Republicans have indicated that they would not vote for a tax bill that increases the federal deficit. | |
| A point of contention on the budget resolution was the possibility that it could doom the current deduction for state and local taxes – particularly important for taxpayers in high-tax states such as New York, New Jersey and California. More than half of the Republicans who opposed the measure came from New York and New Jersey. | |
| More follows... | More follows... |